British Steel poised for rescue by China’s Jingye Group

British Steel poised for rescue by China’s Jingye Group

China’s Jingye Group is in talks to buy British Steel, in a deal estimated to be worth 70 million pounds ($90 million). British Steel was put into compulsory liquidation on May 22 after Greybull Capital, which bought the firm for one pound from Tata Steel three years ago, failed to secure funding to continue its operations. A closure potentially impacts 25,000 jobs.

KCooper
KCooper
The Biggest Bird
The Biggest Bird 4 months

they bought the whole thing for the pound?

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